Secret network reaching new bounds
Secret network has been gaining a lot in anticipation of the upcoming upgrades on the network.
The secret network has gained a lot of traction with the announcement of the supernova mainnet, which will launch on November 9th. It has experienced a 295% increase in the last 30 days.
Let's take a closer look at what's causing this traction.
What is secret network?
Secret Network is the first blockchain to include data privacy by default, allowing you to create and use permissionless and privacy-preserving applications. This one-of-a-kind feature protects users, secures applications, and opens up hundreds of never-before-imagined Web3 use cases.
Supernova upgrade
Secret Network was the first to introduce private smart contracts a year ago. Now, with Supernova, a massive network update that defines Secret as the cross-chain privacy-first platform for Web3, enabling hundreds of new unique use cases for DeFi, NFTs, and beyond, it's finally time to take another giant step forward.
IBC Integration
In addition to bridges to Ethereum, BSC, Monero, Terra, Polkadot, and more! Supernova introduces IBC integration, finally linking Secret Network with blockchains across the Cosmos ecosystem. $SCRT may now be utilised in cross-chain Cosmos apps (like Osmosis and Gravity DEX) and the Cosmos ecosystem as a whole benefits from privacy characteristics provided by secret network. This solidifies secret network position as the decentralised web's data privacy centre and opens the door to new development and adoption opportunities.
Roadmap
New Secret apps will emerge on mainnet alongside the Supernova update, as well as additional partners and collaborators, and millions of new options for users and developers. Hundreds of developers are now working on a wide range of projects, including an encrypted email platform with built-in private payments (in SCRT), a decentralised data marketplace, a private-by-default stablecoin, and many others.
Shade Protocol and Silk stablecoin
Shade Protocol is a network of connected privacy-preserving dApps built on Secret Network. This set of applications will radically iterate on DeFi by innovating not just on privacy, but also on the core DeFi dynamics.
Silk is the first Shade Protocol application that has been announced. Silk is Hidden Network's first natively created stablecoin, designed with secret contracts. Silk, built on Secret Network and made feasible by the SNIP-20 private and fungible token standard, ensures transactional privacy for all Silk token holders.
Secret NFTs on Opensea
Secret Network has announced the launch of Iconic, a new production company that will allow artists, developers, and other creatives to create Secret NFTs, the first NFTs with built-in privacy and access control.
The Secret NFTs included in this future auction will provide bidders with exclusive content that can only be viewed by the holder and has never been seen by anyone other than its creator. To get things off, Secret Network will auction seven unique NFTs as part of a single collection in November in collaboration with OpenSea, the world's largest NFT marketplace, and a world-renowned artist and maker.
Conclusion
Secret networks is pushing a number of use-cases to be built on their platform that provide privacy by default, with the sole goal of delivering privacy to smart-contract based apps. With additional updates and applications on the horizon, we can expect them to gain a lot more popularity.
Endnote
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